Every company or business runs with the help of suppliers and customers. And every transaction is bound with law or policies. To keep these policies in place and make sure that people follow them, we need contracts. A contract specialist is a person who creates, examines and monitors contractual agreements between the organization and the vendors or suppliers.
Contract specialists are also known as purchasing directors, agents or even managers who are responsible for making and ending contracts. The contract specialist must be a good negotiator as well. He needs to get the best deals for the company. Every contract contains performance objectives that need to be achieved. A contract specialist might supervise the performance as mentioned in the contract.
A contract specialist should keep himself updated regarding the new laws and legislation so that he can deal with the relevant contracts accordingly. With the introduction of new laws, the contract specialist will also need to amend the existing contract. A contract specialist not only form contracts, but they are also responsible for maintaining good relationships with the vendors and suppliers.
A contract specialist should possess the skill of being a good negotiator. The contract specialist should also be skilled in purchasing goods at the best price. Evaluation of suppliers will help the contract specialist to choose the best supplier and negotiate the best process with them.
Contract specialist with 8 years’ experience in forming and updating contracts. Excellent negotiation skills helped to analyze the prices in the open market and get the best offers for the company. Time management and organization skills have always helped to prepare the contracts on time and get them implemented. Strategic thinking helped to maintain a list of all the valuable suppliers and select the best vendor among them.
Ethical conduct to make sure that all the terms of the contract are followed and implemented. Customer and client-focused approach to make sure the company gets the best deals for less money. Knowledge of business operations can come in handy when forming contracts.
My objectives in this job are/were:
- To perform contract assignments in support of the procurement officer.
- To amend or update the contract as per new laws.
My roles in this job are/were:
- To solicit bids to acquire goods and services.
- To negotiate and administer the contracts.
- To assist with contract termination procedures.
- To perform basic analysis for the fixed-price contracts.
- To conduct basic procurement procedures and techniques.
My roles in this job are/were:
- To analyze business practices and market trends to evaluate the contract bids.
- To evaluate the performance of the company against the terms of the contract.
- To present information and drafts the provisions of the contract.
- To solicit the sources of supply and analyze prices.
- To analyze the prices, discount rates, and transportation costs to suggest the best offer.
- To consult the seniors on technical issues and terms of contracts.
- Excellent negotiation skills.
- People management.
- Knowledge of business operations.
- Time management.
- Strategic thinking.
To be provided on demand.
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